| Company: | Active Power, Inc |
| Ticker Symbol: | ACPW |
| Class Period: | Apr-30-13 to Sep-5-13 |
| Date Filed: | Sep-12-13 |
| Lead Plaintiff Deadline: | Nov-11-13 |
| Court: | Western District of Texas |
| Allegations: | |
According to the suit, Active Power issued materially false and misleading statements about its business. On April 30, 2013, Active Power announced that it had entered into a "[n]ew strategic distribution partnership agreement with Digital China Information Service Limited, the largest IT solutions provider in China." The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability, adding that "[w]e have already engaged with Digital China on large data center projects for which we anticipate field product deployment later this year."
On September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company attributed the poor to the fact that "the company's previously announced agreement in China is with Qiyuan Network System Limited, which the company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited." According to the Complaint, this adverse news caused the price of Active Power stock to fall, damaging investors.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
